As to when you would not use loctite or other thread locker...
It has what one might loosely categorize as a "land based window" of vibration and other aggravated loosening resistance.
Meaning, unless used within the scope of the original design intention; in the sea or the sky, it is probably not going to end well.
It won't last in a car wash, near a pool, or similar environments. It is absolutely ruined by chlorine and fluorine.
Rooftops can be pretty harsh environments too ...I haven't seen much about weathering and UV/thermo cycling loctite. I recently did see a greenhouse dome collapse because the exposed metal fastener heads got so hot that they eventually melted through the rigid poly- panels, and a good wind ripped the whole place down. /tangent
It cannot be used in torque critical applications, as it's physical variation over short periods of time make it unpredictable, and thus not a reliable lubricant.
It cures anaerobically, and in the presence of too much oxygen it just refuses to cure. This means that if you use too much, so that it is visibly coming out and circling the exposed threads, or pooling, the inside may cure slowly, or not at all.
It is material and surface finish sensitive. It has problems bonding to some stainless steels and coatings on some hardware, even when used with their fancy primer.
Company A's SS hardware, acetone bath, red loctite cures hard, no problem.
Company B's SS equivalent hardware, same process, 48 hours later and it could still be easily undone with a wrench. Some of the red loctite itself was a still wet but hardening spiral that easily separated from both hole and fastener, totally unadhered to either.
It is "oil resistant" but not oil proof, particularly with molybdenum disulfide and possibly other dry film coatings. You would think this would be obvious, but apparently not to lots of engineers. This means always, always clean the hardware you intended to thread lock, don't just trust it will be okay.
...
Thread locker is really for internal fastening applications; think parts inside of a larger machine that there is not access to.
Through engineering laziness, a desire for reduced BOM count, less skilled workforce, etc, etc, (read: cost cutting) and again, engineering laziness, it has become the miracle-do-all-wonder of the fastening challenged everywhere.
And like any industrial product of sheer laziness, it has thus permeated into the consumer market.
But it is not "reliable" like saftey-wire or a Nord lock would be in a critical application.
I love me some Nord locks myself.
Finger tighten the ******* and you NEED a wrench to get it back off. Through bolt, with one under the head and one under the nut, amazing.
Oh, and on stainless steel hardware, we tested Loctite's fancy and expensive primer against acetone, and there was no measurable difference.